94,500 operational firms recorded in January-July

94,500 operational firms recorded in January-July By Thanh Thom File photo of business registrations in HCMC. This month has seen over 11,200 new companies, with registered capital of some VND122.1 trillion (US$5.2 billion) – PHOTO: HUNG LE HCMC – Some 94,500 enterprises have been newly established or have resumed operations so far this year, according to the General Statistics Office (GSO). The GSO said in a July 29 report on the national socioeconomic performance in the January-July period that this month alone has seen the establishment of over 11,200 companies with registered capital of some VND122.1 trillion (US$5.2 billion), down 7.8% in number and 7.6% in value against the previous month. As many as 2,970 companies have also opened their doors again after suspension, while nearly 8,000 others have suspended their operations. Notably, more than 1,000 companies have gone out of business this month. Between January and July, the country has had roughly 75,800 new companies with registered capital of VND771.1 trillion (US$33.1 billion), rising by 3.9% and 11.6%, respectively, from a year earlier. Each has registered an average VND10.2 billion (US$439,000) in capital, a year-on-year rise of 7.4%. Operational companies have so far registered an additional VND1,460 trillion (US$62.8 billion) to fund their expansion plans, bringing the total freshly pledged capital to over VND2,231 trillion (US$96 billion), in the period. In addition, the number of companies returning to business has risen by 6.5% year-on-year to some 18,700, bringing the total number of newly registered and reorganized enterprises in seven… [Read full story]